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Tender Oil signs a significant investment deal for onshore exploration in Senegal


Published Feb 3, 2015
Tender Group

Tender Oil & Gas Casamance SARL (TOG), a Tender Group subsidiary, recently signed a production sharing contract (PSC) with Senegal’s Ministry of Energy and Petrosen - the national oil company of Senegal.

With the approval of the president of the Republic of Senegal, Macky Sall, the PSC was signed for two onshore blocks – Saloum and Senegal Onshore Sud, totalling 28,897 sq. km – it gives TOG license and exclusive rights for hydrocarbon exploration for the next eight years.

Initial exploration investment is expected to increase during the development and production phase, resulting in drilling wells for new oil and gas production sites on Senegal soil. If commercial discoveries are made, the Republic of Senegal could benefit in profit share and in various tax revenues.

Tags: Tender Group




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